ّCurrency: This publication is a compilation of the text of Public Law It was last amended by the public law listed in the As Amended. One of the most interesting was the price regulation and product allocation system set in place by the Energy Policy and Conservation Act of (EPCA) which. The Energy Policy and Conservation Act (EPCA) of established an energy conservation program for pumps and other equipment. EPCA authorizes DOE to .

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Energy Policy and Conservation Act

The complexity of energy markets and the uncertainty over the effects of lifting the export ban has prevented a strong public rpca in favor of either side. The primary goals of EPCA are to increase energy production and supply, reduce energy demand, provide energy efficiency, and give the executive branch additional powers to respond to disruptions in energy supply.

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F0 ecpa for similar items in EconPapers Date: March Learn how and when to remove this template message. The EPCA contained several policies to encourage the production of domestic energy sources. It is this rigidity that undermines security by discouraging new production and adoption of new technologies, both of which depend on high prices.

The market changes and export restrictions in the s create excess domestic supply and lower energy prices in the present. This has led to a distributional conflict as the beneficiaries lobby to preserve their economic security, inadvertently undermining the very aims of the EPCA by attempting to keep energy prices low and decreasing US resilience to future energy shocks.

Structural changes shifting the economy to services and increases epcz energy efficiency and conservation resulting from high prices in the s and s have been largely responsible.

Epcaa is the result of inelastic supply as independent producers of shale oil continue producing so long as prices are above average variable costs. This journal article can be ordered from http: Fill epcz suspended in FY to devote budget resources to refurbishing the SPR equipment and extending the life of the complex.


Energy Policy and Conservation Act of | Energy Security

One of the most interesting was the price regulation and product allocation system set in place by the Energy Policy and Conservation Act of EPCA which lasted from until This has created a large and inelastic supply of domestic oil. Although the Executive branch has granted a few export licenses, demand for such licenses far outstrips the pace at which they are granted.

This page was last edited on 27 Decemberat Fill in your details below or click an icon to log in: An Act to increase domestic energy supplies and availability; to restrain energy epac to prepare for energy emergencies; and for other purposes. This market inefficiency has resulted in a record spread for refinery operating margins between the US and Europe.

National Energy Conservation Policy Act. Introduced in the E;ca as S. Additionally, booming Canadian oil production and exports remain captive and oriented for the US market. With these aims, the low domestic energy prices in the present are not an original aim of the legislation. Over the years, the American government has imposed a number of regulatory regimes on this industry. But few events so dramatically underscored the need for a strategic oil reserve as the oil embargo.

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This article needs additional citations for verification. Commerce Department able to grant exceptions for certain types of oil.

The need for a national oil storage reserve had been recognized for at least three decades.

Thus, the EPCA presents a case of risk of unintended distributional conflict that undermines the original objectives of the legislation. The EPCA sensibly tried to improve US energy security by adding resilience to the energy market, primarily by addressing supply and demand and the inelasticities therein. The rent-seeking that the act has enabled is most apparent in the organization of separate interest groups seeking to influence policy decisions on the liberalization of oil and gas exports.

Energy Policy and Conservation Act of 1975

Construction of the first surface facilities began in June The Natural Gas Market While similar to the oil industry, the natural gas market has its own nuances, though it remains similarly impacted by export restrictions. Ickes advocated the stockpiling of emergency crude oil in The exceptional export licenses were for oil from Cook Inletoil flowing through the Trans-Alaskan Spca Systemoil exported to Canada, heavy oil from California, certain trades with Mexico, and some exceptions for re-exporting foreign oil.


While the provisions of the Act did work to improve security in the s, the changing market realities have enabled rent-seeking. With some exceptions, the results indicate that the EPCA regulation system either raised prices or had no effect.

As such, the primary supply of natural gas in the US comes from domestic producers with a limited imports. Natural gas is not a globalized commodity; it is confined to regional markets due to transportation costs. Nearly 40 years later, the US has met many of the conditions for energy fpca, and, as an unintended consequence, the provisions of the Act have come to serve the interests of narrow groups within society rather than contribute, in any real sense, to American energy security.

These results should lead to caution on the part of policy-makers.

Given that the recent US production boom and decrease in overall demand has moved the prospect of exporting substantial quantities of oil closer to reality, this has increased the impetus for organization among the various benefactors and losers of the present system.

Corporate Average Fuel Economy. Here is how to contribute. The EPCA gives rise to this particular situation as an unintended consequence, which encourages distributional conflict that works against energy security. The average fuel economy for model years, and epc set at 18, 19, and 20 miles per gallon, respectively, and by the average economy was required to be Notify me of new comments via email.